Senior Home Equity blows past $11 trillion

Homeowners 62 and older saw their housing wealth grow by 4.91 percent or $520 billion in the first quarter to a record $11.12 trillion from Q4 2021, according to the latest quarterly release of the NRMLA/RiskSpan Reverse Mortgage Market Index.

Prepared by Riskspan, Inc. 
Data Sources: American Community Survey, Census, FHFA, Federal Reserve
Prepared by Riskspan, Inc. Data Sources: American Community Survey, Census, FHFA, Federal Reserve

The NRMLA/RiskSpan Reverse Mortgage Market Index (RMMI) rose in Q1 2022 to 388.83, another all-time high since the index was first published in 2000. The increase in older homeowners’ wealth was mainly driven by an estimated 4.4 percent or $563 billion increase in home values, offset by a 2.06 percent or $43 billion increase in senior-held mortgage debt.

NRMLA President Steve Irwin, said: “Inflationary fears, market volatility and concerns about a possible recession have created a great deal of anxiety for America’s aging population. Now may be an appropriate time to consider the strategic use of home equity to help improve older homeowners’ retirement security.”

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